Pan-European stock exchange Euronext announced on Tuesday plans to acquire Nasdaq's Nordic power futures business, pending regulatory approvals.
The agreement includes transferring open positions to Euronext Clearing, while Nasdaq will retain its European multi-asset clearing operations. Power futures trading will be managed from Euronext Amsterdam, bolstering the company's role in the Nordic and Baltic energy markets.
Camille Beudin, Head of Diversified Services at Euronext, described the acquisition as a pivotal move to establish a "long-standing and liquid" power futures market, while Nasdaq's Roland Chai said the deal sharpens Nasdaq's strategic focus, ensuring continuity for clients.